haha
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Perhaps even more telling, the ECB has stepped into quantitative easing in a big way and in spite of this stimulus their market is not exactly going wild.Quantitative easing was recently reduced. And look how the stock markets have behaved since.
(I'm not planning to remain this vulnerable, I'm trying to design a diversified portfolio, but am not ready to buy equity at this time - I hear the Bogleheas go "boo hiss!" and do understand that I may be foolish to try to somewhat time my entry point; value investors on the other hand maybe would agree that entering at a lower PE10 wouldn't hurt, provided such a lower PE10 presents itself)
Your looking for value doesn't seem foolish to me, quite the contrary. In my practice the foolish thing is to not pay attention to valid measures of valuation of whatever a person may buy. And realistically, all investing when one gets beyond insured savings and high quality short duration bonds is speculating. Some things are smart speculations, many more things are dumb speculations. I am long gone from gold, though I have invested in gold and gold miners on and off for close to 40 years. Gold may be getting ready to go to the moon, but it is starting from a high enough perch that a big fall could be very harmful. I tend to be very aware of risk in any investment, and my experience has been that risk goes up with price, even if this might be contrary to some academic's theory. In fact, I usually take comfort if my practice is contrary to Professor Ivory's research.
Ha